The Rise Of The Wall Street Crash Essay
It’s effects were felt not only in America but across the world, directly affecting millions of lives, and indirectly working to reshape Europe and the world today as we know it.
This obviously had a huge immediate effect in America, with millions of ordinary people losing their savings and being made redundant meaning therefore that they were no longer able to contribute to the economy by purchasing consumer goods- so the economy came to a stand still.
Culturally, after coming from the period of progression and prosperity that was the roaring twenties, the zeitgeist of America shifted into a much more uncertain and pessimistic one.
The Wall Street Crash also saw a severe and immediate global effect.
Britain was also affected on a smaller scale, still not having recovered fully from the economic toll of WWI, it was also heavily affected. Demand for traditional industry like shipbuilding and mining fell hugely, meaning especially in industrial areas, unemployment rates skyrocketed.
In both America and Britain this lead to millions suddenly being out of work, meaning that people could no longer provide for their families. Homelessness became a huge problem, especially in America- with huge makeshift, shanty towns set up.
This had a huge physical toll on the population with more people becoming sick and huge numbers of people becoming…